You must read your contract for your answer.
You must read your contract for your answer.
You must read your contract for your answer.
You must read your contract for your answer.
There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
The purpose of a contract is to make the agreement binding on the parties. There are generally provisions in a contract that allow cancellation under specific conditions. They revolve around contingencies, most commonly an inspection and financing. Beyond that a buyer can cancel a contract but will likely lose any deposit. Even then it is possible for the seller to sue for nonperformance.
The time limit a seller has to sign a real estate contract will be part of the contract the buyer writes with his agent. Typically a buyer will get a recommendation from his Realtor what is customary in the local market. This can vary from giving the seller just a few hours, up to several days or more.
escrow officer, lender, real estate agent
"Contract pending" in real estate refers to a situation in which the buyer and seller have signed a purchase agreement and agreed on terms, but the sale has not yet closed. Before the deal is completed, requirements like financing, inspections, and appraisals must be met during this time. Technically, the property is still not for sale.
There are remedies available to the Seller if a buyer does not purchase the real estate as agreed in a written, fully executed contract. These are only available to the seller if the buyer has signed the contract and there are no limiting conditions such as a financial clause, inspection clause, due diligence period, etc. If the buyer breaches the contract the seller may sue to keep the buyer's deposit, sue for damages caused by the buyer breaching the contract, and may also sue for "specific performance" which would force the buyer to purchase and close on the real estate.
Yes, the Soldier and Sailor Relief Act can terminate a real estate purchase contract in Arizona.
The seller cannot change their mind once they have signed a contract unless there is some language in the contract that will allow them to back out of the sale. You need to review the terms of your purchase and sale agreement.
In my state the Seller may refuse to fix items. The Buyer may then agree to accept the house "as is" or they may cancel the contract; providing there is an Inspection Addendum that states this. Inspections should be referred to in your contract or as an Addendum. If you used a broker or real estate agent, s/he should be able to show you what the appropriate language was in the contract.
A land grant contract is an agreement between a buyer and seller to purchase real estate. The contract will specify terms and conditions and sometimes involve owner financing.
Not likely but you can ask the seller very nicely if they will let you out of the contract. If not seek legal advice, but I would think you are bound to that conract.
The purpose of a contract is to make the agreement binding on the parties. There are generally provisions in a contract that allow cancellation under specific conditions. They revolve around contingencies, most commonly an inspection and financing. Beyond that a buyer can cancel a contract but will likely lose any deposit. Even then it is possible for the seller to sue for nonperformance.
A real estate contract may be executed by the buyer and seller; trustee; attorney; builder/contractor. Any party to a real estate contract may execute a real estate contract.
If the decedent has signed a binding contract to sell the house, then his or her estate must abide by it and sell the house according to the terms of the contract. The executor has no power to simply cancel the contract nor is the contract automatically cancelled by the death of the seller.
Upon both the buyer and the seller signing the contract.
When it has been signed by the buyer and seller.
If a seller dies after signing a contract then the contract is terminated. In the case of real estate the property may go to the state, a bank, or the trustee of the will.